The TJX Companies Inc
) - an off-price retailer of apparel and home fashions - hit a
52-week high of $46.85 on Mar 22 and eventually closed at $46.62,
recording a healthy return of 8.3% year-to-date. Strong comp
sales in Feb and impressive fourth quarter fiscal 2013 results
drove share prices. The company's long-term estimated EPS growth
rate is 11.33%. Average volume of shares traded over the last
three months came in at approximately 4,928K.
Solid comparable-store sales growth for consecutive months
over the last two years and fourth quarter fiscal 2013 results
drove TJX shares to achieve a new high.
TJX reported positive comp sales growth of 1% for the month of
February. Also during fourth quarter fiscal 2013, TJX's
consolidated comparable store sales excluding the extra week
increased 4.0% on the back of strong performance in all the
stores in the U.S., Canada and Europe. Further, well-chosen
stocks at the stores improved customer traffic during the period.
Comparable store sales growth also exceeded management's
Though the company expects consolidated same store sales to be
down 0-2% for the month of March, it expects April comp sales to
turn around and report comp growth in the range of 6% to 8%.
Besides strong comp sales, TJX also posted strong adjusted
earnings of 82 cents, which exceeded the prior-year quarter
earnings by 32.0%, driven by solid top-line growth, higher
consumer traffic on the back of fresh stocks in the stores and
solid comparable-store sales growth. In fact, company's earnings
surpassed the Zacks Consensus Estimate in the last four quarters,
posting an average surprise of 1.64%. The company's results
outperformed the Zacks Consensus Estimate by 1.23%.
TJX's sales grew 15.0% on a year-over-year basis to $7.7
billion in the fourth quarter, driven by solid growth in
consolidated comparable store sales. Net sales beat the Zacks
Consensus Estimate of $7.6 billion.
Other Stocks to Consider
TJX currently carries a Zacks Rank #3 (Hold). However, there
are other favorable stocks in the retail and wholesale sector
that are worth considering. These include
Green Mountain Coffee Roasters Inc
). Green Mountain and Safeway hold a Zacks Rank #1 (Strong Buy),
while Macy's carries a Zacks Rank #2 (Buy).
GREEN MTN COFFE (GMCR): Free Stock Analysis
MACYS INC (M): Free Stock Analysis Report
SAFEWAY INC (SWY): Free Stock Analysis Report
TJX COS INC NEW (TJX): Free Stock Analysis
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